According to the latest report by IMARC Group, titled “Global Continuous Glucose Monitoring Systems Market Share, Size, Industry Trends, Growth, Opportunity and Forecast 2022-2027“, the global continuous glucose monitoring systems market reached a value of US$ 5.46 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 9.56 Billion by 2027, exhibiting a CAGR of 9.50% during 2022-2027.
Continuous glucose monitoring (CGM) systems are wearable medical devices designed to track patient glucose levels automatically throughout the day and night. They work through a tiny sensor inserted under the skin that measures the interstitial glucose level at regular intervals and wirelessly sends the readings to the monitor via a transmitter. They provide a complete profile of diabetes, detect patterns, enable personalized care, and alert highs and lows of blood sugar levels. As a result, CGM systems have gained immense popularity among diabetic patients as they are prick-free and offer real-time information quickly and painlessly.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Continuous Glucose Monitoring Systems Market Trends and Drivers:
The global continuous glucose monitoring systems market is primarily driven by the rising incidences of diabetes and the expanding geriatric population that is more prone to diabetes. Additionally, governments of various countries are taking favorable initiatives to manage the disease at a larger level and spread awareness regarding diabetes preventive care.
In line with this, the growing product usage to identify hypoglycemia and hyperglycemic situations in real-time has augmented the demand for CGM systems. Furthermore, product innovations, such as the integration of artificial pancreas device systems with CGM technology to pump insulin and administer optimum dosage to manage the patient glucose levels, have propelled the market growth.
Other factors, including the escalating demand for minimally invasive diagnostic tools, technological advancements, and extensive research and development (R&D) activities, are also anticipated to drive the market further.
Global Continuous Glucose Monitoring Systems Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
A. Menarini Diagnostics S.r.l., Abbott Laboratories, DexCom Inc., F. Hoffmann-La Roche AG, Glysens Incorporated, LifeScan Inc. (Johnson & Johnson), Medtronic PLC, Medtrum Technologies Inc., Nemaura Medical Inc., Novo Nordisk A/S, Senseonics Holdings Inc. and Waveform Technologies Inc.
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The report has segmented the market on the basis of region, component, demographics and end user.
Breakup by Component:
• Transmitters and Receivers
• Integrated Insulin Pumps
Breakup by Demographics:
• Child Population (≤14 years)
• Adult Population (>14 years)
Breakup by End User:
• Clinics and Diagnostics Centers
• Home Healthcare
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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